Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) Short Interest Up 7.3% in October

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Get Free Report) was the target of a significant growth in short interest in October. As of October 15th, there was short interest totalling 4,840,000 shares, a growth of 7.3% from the September 30th total of 4,510,000 shares. Based on an average daily volume of 828,800 shares, the days-to-cover ratio is currently 5.8 days.

Alnylam Pharmaceuticals Stock Performance

Shares of Alnylam Pharmaceuticals stock traded down $3.20 during trading on Wednesday, hitting $281.49. The company's stock had a trading volume of 976,404 shares, compared to its average volume of 867,922. Alnylam Pharmaceuticals has a 52 week low of $141.98 and a 52 week high of $304.39. The company has a market capitalization of $35.61 billion, a PE ratio of -105.03 and a beta of 0.39. The company has a fifty day simple moving average of $274.75 and a two-hundred day simple moving average of $224.30.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last released its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.74) by $0.61. The business had revenue of $659.83 million for the quarter, compared to analysts' expectations of $447.22 million. During the same quarter in the previous year, the business posted ($2.21) earnings per share. Alnylam Pharmaceuticals's revenue for the quarter was up 107.0% on a year-over-year basis. As a group, analysts predict that Alnylam Pharmaceuticals will post -2.73 EPS for the current year.

Analyst Upgrades and Downgrades

ALNY has been the subject of several recent research reports. Cantor Fitzgerald reissued a "neutral" rating and issued a $220.00 price target on shares of Alnylam Pharmaceuticals in a research note on Friday, October 11th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $300.00 target price on shares of Alnylam Pharmaceuticals in a research note on Thursday, October 10th. Canaccord Genuity Group upped their price target on shares of Alnylam Pharmaceuticals from $357.00 to $366.00 and gave the company a "buy" rating in a report on Friday, August 2nd. Wells Fargo & Company raised their price target on shares of Alnylam Pharmaceuticals from $207.00 to $233.00 and gave the stock an "equal weight" rating in a report on Friday, August 2nd. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $320.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Thursday, October 10th. Six analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $290.86.

Insider Activity at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, CEO Yvonne Greenstreet sold 15,148 shares of Alnylam Pharmaceuticals stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $270.00, for a total transaction of $4,089,960.00. Following the completion of the sale, the chief executive officer now owns 73,441 shares of the company's stock, valued at $19,829,070. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Yvonne Greenstreet sold 15,148 shares of the firm's stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $270.00, for a total transaction of $4,089,960.00. Following the transaction, the chief executive officer now directly owns 73,441 shares of the company's stock, valued at approximately $19,829,070. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Dennis A. Ausiello sold 20,250 shares of the company's stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $262.00, for a total value of $5,305,500.00. Following the completion of the sale, the director now directly owns 136 shares of the company's stock, valued at approximately $35,632. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,398 shares of company stock valued at $13,595,460 over the last three months. 1.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Large investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC raised its stake in shares of Alnylam Pharmaceuticals by 572.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 168 shares of the biopharmaceutical company's stock worth $25,000 after buying an additional 143 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in shares of Alnylam Pharmaceuticals in the second quarter worth $26,000. Altitude Crest Partners Inc. bought a new stake in shares of Alnylam Pharmaceuticals in the first quarter worth about $30,000. Friedenthal Financial bought a new stake in Alnylam Pharmaceuticals in the third quarter worth $51,000. Finally, Farther Finance Advisors LLC raised its position in shares of Alnylam Pharmaceuticals by 95.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 211 shares of the biopharmaceutical company's stock valued at $58,000 after buying an additional 103 shares in the last quarter. Institutional investors own 92.97% of the company's stock.

About Alnylam Pharmaceuticals

Alnylam Pharmaceuticals, Inc, a biopharmaceutical company, focuses on discovering, developing, and commercializing novel therapeutics based on ribonucleic acid interference. Its marketed products include ONPATTRO (patisiran) for the treatment of the polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults; AMVUTTRA for the treatment of hATTR amyloidosis with polyneuropathy in adults; GIVLAARI for the treatment of adults with acute hepatic porphyria; and OXLUMO for the treatment of primary hyperoxaluria type 1.